Why is Demand for Low-Speed Electric Vehicles High in APAC Countries?

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The adoption of electric vehicles in Asia-Pacific (APAC), particularly in countries including India and China, has increased considerably over the past few years. This can be primarily be attributed to the increasing awareness among people regarding the swift deterioration of the environment. In addition to this, governments of different countries are also trying to encourage the adoption of electric vehicles for keeping the air quality in check and reducing the surging air pollution levels. Governments are providing incentives such as subsidies, tax rebates, and grants on the purchase of electric vehicles in the APAC region.



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It is because of all these reason that the adoption of low-speed electric vehicles has risen substantially in APAC. According to a report by P&S Intelligence, the APAC LSEV market is predicted to attain 71.8 million units by 2025, advancing at a 6.6% during the forecast period (2018–2025). LSEVs are of three types, namely four-wheeler, two-wheeler, and three-wheeler, among which, the demand for two-wheelers was the highest in the past and the situation is predicted to be the same in the coming years as well. Two-wheeler LSEVs are increasingly being adopted as a means of personal transport all across the region.

Within the region, China has emerged as the largest APAC LSEV market in recent years, which can be primarily attributed to the favorable government policies and swiftly increasing urban population in the country. The Chinese government is highly bent upon electrifying public transport, which is expected to lead to the growing adoption of LSEVs in the country in the years to come. In addition to this, a large number of major players in the domain are concentrated in China.

Hence, the demand for Low speed EVs in APAC is increasing because of the degradation of the environment and supportive government policies.

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